Why Invest in caracola?
Caracola Beach & Spa Resort provides you with an incredible opportunity to earn on your investment through capital growth as well as rental return from your property. If you combine this with the very attractive tax benefits of Isla Margarita and tax efficient ownership, you have the optimum overseas property purchase.
• Caracola is SIPP compliant (subject to terms and conditions)
• Guaranteed minimum 7% pa net rental return for 10 years,
increasing to 8.25% for last 5 years, if resort occupancy reaches
75% in year 5
• Rental return backed by fidelity bond
• Last apart-hotel directly on the beach in an area with a shortage
of top quality accommodation
• Excellent scope for capital growth
• The best development on the beautiful Caracola Beach
• Shops, restaurants & amenities close by
• World class rental & management company
• Best-in-class developer, proven track record
• Freehold title
• Easy purchase procedure
• Tax efficient ownership
• All Apartments come with air conditioning and all furniture
• Low cost of entry (prices from €79,000 - excluding payment discounts)
• 30% deposit held in ESCROW
• Potential minimum investment from only €26,000*
*Includes estimate of legal and administration fees
Rental & Management
Caracola Beach & Spa Resort provides a genuine hands-off investment opportunity through a
comprehensive management and rental package delivered by the Geneva Hospitality Group. Geneva
has been selected to manage this rental package due to their best in class pedigree illustrated through
delivery of generous guaranteed rental yields whilst at the same time maintaining your properties to the
highest standards.
You can rest assured that your property will be managed and let by one of the best companies in the
business.
The Process
• Pay €3000 reservation fee
THEN EITHER:
• Pay 30% deposit
less €3000 reservation fee within 28 days (or 90 days for a transfer sip ) to qualify for a 2% discount
• or Pay 50% deposit
less €3000 reservation fee to qualify for a 5% discount
• or Pay 50% less €3000 reservation fee within 28 days (or 90 days for a transfer sip ) to qualify for a 7% discount
• On deposit pay 1.5% for legal & administration fees*
• Pay balance on completion plus additional 1.5% legal and administration fees*
Mortgages for the balance are expected to be available prior to completion, secured on the property, backed by the fidelity bond of the rental agreement. Competitive market rates are expected to apply at the time. Its that simple...
* Estimated costs at time of going to print
Specification
Foundations
The foundations will be constructed using a system of isolated footings and beam footings in reinforced concrete. This will be covered by reinforced concrete to support vehicle traffic.
Structure
Structure with reinforced concrete formed by pillars in the same material. One-way slab flooring including electro-welded netting. The entire foundation and structure will comply as per the design and the execution, according to EHE regulations.
Brickwork
Two layers outside front walls, formed by ceramic brick, with 4cm thick expanded polystyrene insulation and partition brick walls, laid with cement and covered on the interior with plaster.
Through this method we can obtain a high level of acoustic and thermal insulation. The indoor walls are constructed with double airspace 7cm thick bricks. The division between the units will be executed with ceramic bricks laid on half footings, as per the norms of resistance acoustic insulation and fire
resistance. Plaster false ceilings in bathrooms to allow for installation of air conditioning units.
Floors and Tiling
Top quality sandstone tiles inside the units. The terraces andporches will be finished with top quality anti-slip sandstone tiles. Ceramic sandstone top quality tiles in kitchen and bathrooms.
Exterior Woodwork.
The outside woodwork will be thermo-lacquered and aluminium in colour (incorporated aluminium blinds of the same colour), prepared for the installation of double glazed Climalit windows. In this way, perfect acoustic and thermal insulation of windows and sliding doors is achieved.
Woodwork
High security entrance door with interior finishing of lacquered beech wood, and exterior woodwork in white PVC, anti drill locks, with a 3 point locking and 4 point anti bar. Inside doors in lacquered beech wood with frieze and colour mark. Designer door handles. Wardrobes in layered lacquered beech wood, aluminium runners and interior covers, sliding doors with aluminium runners.
Plumbing & Bathroom Fixtures
The entire plumbing distribution of hot and cold water will be in polyurethane piping, as well as the joints and fittings. The entire bathroom fixtures will be of the “Roca” brand or similar, white in colour. Lever action chrome mixer taps will also be fitted.
Electricity
Electrical switches type Legrand or Galilea or a similar quality will be used. Two telephone points in each unit. Community telecommunication infrastructure (basic telephone wiring installation, integrated services digital network, cable telecommunications, radio & TV aerial). Equipment for UHF VHF-FM frequencies, with all terrestrial channels, 2 points per unit. Communal satellite dish.
Glazing
Climalit brand double glazed windows.
Paintwork
Acrylic polymer resin-based waterproof paint will be used on the exterior facade. Gloss plastic paint on interior walls. Gloss natural lacquer with woodgrain effect on indoor woodwork.
Sundries
Complete installation of air conditioning by ducts with hot and cold pump. Fully equipped kitchen, including white goods (washing machine, vitroceramic electric hob, oven and combination fridge and electric water heater with a 75 litre capacity). Regulated water supply with pressure guage. Various
communal pools and lift for access to dwellings on upper floors. Semi covered communal parking spaces.
Golf, Activities & Shopping
Golf lovers will be ver y impressed by the standard of facilities on offer at the par 70 Isla Bonita 18 hole golf course. The course commands breathtaking sea views and is open all year round. If you wish to play, you may hire clubs, caddies and after an enjoyable round you can relax in the clubhouse bar where refreshments and food are readily available. Prices range from $40-$80 a round depending on the season.
Hiking
If hiking is more your style, you will definitely want to explore Isla Margarita’s numerous parks.
The diverse conditions on the island allow you to explore mountain rain forests one day and sand flats the next.
Horse Riding
For a different kind of adventure, you may wish to explore the “Peninsula of Macanao” on horseback. If beaches are more appealing, then you can trek along the shores of Paraguito and Ascunsion Beaches.
Shopping
Isla Margarita is a duty-free zone offering a variety of shopping opportunities and exceptional value to Venezuelans and tourists alike. Prices are 15-20% lower than on mainland Venezuela, therefore considerably less expensive than Europe or the US. Isla Margarita is a haven for ceramics, textiles and handmade crafts. Everything from hats to handbags.
The chinchorro is a local term for hammock. These hammocks are an intricate weave of thin strands of rough natural fibres. An array of styles can be found all over the island, differing from town to town. You will also discover locally produced jewellery made using traditional materials.
The more discerning shopper will also be pleased at the extensive choice of designer clothes, jewellry and perfumes. Brands such as: Cartier, BMW, Benetton, Tiffany’s, Hugo Boss, Dolce & Gabbana, Quicksilver, Breitling & Tommy Hilfiger can be found at a fraction of the normal price. Among the best buys for tourists are liquor, Cuban cigars, rum and Venezuelan coffee.
Porlamar, the duty-free port
Downtown
The most unique shopping experience can be found in downtown Porlamar. The pedestrianised shopping area is reserved for shoppers to wander through, enjoying the multitude of specialty shops and market stalls.
Uptown
Samil is the biggest of several shopping malls on Isla Margarita. Located in the centre of Porlamar, here you will find the more upmarket designer stores, cafes & local amenities.
• Caracola is just a 5 minute walk away from Porlamar
Watersports
Windsurfing
Isla Margarita is famous among windsurfers throughout the world. With its strong, consistent wind, warm water, and temperature, it’s not surprising that Isla Margarita hosts Professional Windsurfing Association competitions each year.
In the south of the Island is El Yaque Beach. El Yaque is recognised as one of the world’s top five locations for windsurfing and is attracting more and more windsurfers annually. The shallow waters extend for 100m, providing the perfect conditions for beginners and those practicing their tricks and manoeuvers.
Scuba Diving & Snorkeling
Isla Margarita offers some excellent Caribbean scuba diving and snorkeling. The main attraction is without doubt the abundant and diverse underwater life such as Barracuda, Parrot fish, Spanish Hog fish, all kinds of Grunts, Groupers, huge Balloon fish and if you have a keen eye and are very attentive, you may see lobsters and sea horses. The two most popular snorkeling and dive locations are Los Frailes and Isla Cubagua. A snorkel trip costs on average between $40 and $60 per person for a full day with lunch. The scuba tours cost between $50 and $80 for a whole day trip.
Los Frailes
The Los Frailes Archipelago is a group of 5 small uninhabited islands and rocks, located 10 nautical miles north east of Isla Margarita. Because of its northerly location, it has some unique characteristics, such as the presence of a variety of sea nutrients, which makes it biologically diverse and a haven for all kinds of exotic marine life. Ranked as the best diving around the island, the maximum depths are about 25m, with visibility of 10-30m and water temperatures of 21-24°C.
Isla Cubagua
Isla Cubagua is one of the sister islands of Isla Margarita. At Cubagua you can dive off the wreck of a sunken ferry, the Cacica Isabel. In 1981 she was en route from Puerta la Cruz to Punta De Piedras, Isla Margarita, carrying a cargo of cars, trucks and passengers. The crew and passengers all escaped unhurt but the trucks and cars were not so lucky.
Less than 5 feet behind the Cacica Isabel is another wreck, the San Esteban. The San Esteban was purposely sunk years later by students of the La Salle College to serve as an artificial reef. Both wrecks are now sitting in about 45 feet of water in an upright position. Divers can descend through open decks or swim around their exteriors.
History
When Christopher Columbus made his third voyage to America in 1498, he discovered this island. Columbus baptized the island “La Margarita”, the Greek word for “Pearls” since he noticed that the seabed was laden with pearls. The legend says that once upon a time pearls as big as eggs from a dove existed on the island. The name was later changed by the Spanish monarchs to Isla de Margarita to honour the princess from Austria who was to marry the Spanish Prince Don Juan. Today the income from the pearls has been replaced by that from tourism. After all, who could resist a total of 50 stunning beaches scattered along 106 miles of coastline?
Places of interest
La Asuncion
La Asuncion boasts buildings dating from the 16th and 17th centuries, including the oldest church in Venezuela and the fort of Santa Rosa. From the top of the fort you can view the valley, the hills in the distance and the blue waters of the Caribbean. On the roof is anentrance to a tunnel that served as an escape route for the soldiers of the revolution. During holy week, religious statues are carried through the streets of the city.
Porlamar
This is the island’s largest town where major hotels, restaurants, nightclubs, and stores are located. The Franciscan monastic order founded Porlamar in 1536, and it remained a quiet fishing village until the end of the 19th century, when it was flooded with foreign merchants in search of pearls.
Restinga National Park
The fascinating La Restinga Lagoon is a national park consisting of an amazing mangrove forest, water channels and lagoons. Located on the small piece of land connecting the eastern & western sections of Isla Margarita. The park is home to many species of birds, tree crabs, sea horses and starfish.
Venezuela
A myriad of landscapes, cultures and experiences awaits you. It has everything from snowy Andean mountains and Amazonian jungles to a turquoise coastline. The diverse environment makes travelling and exploring the country all the more enjoyable. Rock climbing, hang-gliding and snorkeling are all possible here, as well as a trip to the worlds tallest waterfall, Angel Falls. The height is a heady 3,212ft. That’s about 16 times taller than Niagara Falls. It is located in the south-east of the country in the stunning Canaima National Park.
In the west of Venezuela are the impressive Andean range of mountains and the city of Merida. The capital of the municipality of Libertador, Merida is the main centre for education and tourism in western Venezuela. It is the home of the highest and second longest cable car in the world finishing at 15,633ft above sea level.
The countrys’ beauty is not just limited to its landscape, it has produced more winners of Miss Universe per capita than any other country. But this country has a lot more to offer than just beautiful people and stunning terrain.
In the south of the country is the Amazon jungle. This is more for the adventurous travellers as the jungle boasts a remarkable set of exotic plants and wide variety of animals, including the Jaguar, Ocelot, Tapir, Armadillo, Anteater, and the longest snake in the world, the Anaconda.
The capital city of Caracas is the birthplace of Simón Bolívar. The most important leader in South America’s successful struggle for independence. The city is a bustling metropolis of nearly 5 million inhabitants. Both progressive and cosmopolitan, the city boasts some of the finest historical monuments and the most impressive modern architecture in South America.
Venezuela is a stable democratic country with consistent GDP growth, benefiting from having the second largest export income (behind China) and strong trading relationships throughout the world (for example, it is the forth largest oil exporter to the US). Increasing tourist demand and continued GDP growth makes it ideal for inward investment.
How to get to isla Margarita
From the UK
From November to April, First Choice operate a direct weekly flight service from London Gatwick and Manchester airports. Flight times are approximately 9 hours. From May to October, flights are on a fortnightly basis.
You can fly to Caracas, (35 minutes from Isla Margarita) from any of the following airports: Aberdeen, Belfast, Birmingham, East Midlands, Leeds, London Heathrow, Gatwick, Stansted and Luton.
From Europe
From the Continent you can use the following airlines: Air France, Iberia, Alitalia, Air Europe, Conviasa, Lufthansa, KLM, Condor or TAP Portugal.
From America
The following airpor ts also have frequent depar tures to Caracas: Atlanta, Boston, Charlotte, Chicago, Cincinnati, Dallas, Denver, Detroit, Houston, Las Vegas, Philadelphia, Phoenix, San Francisco, Seattle and St. Louis.
Arriving and Getting Around
From Caracas there are numerous daily ‘shuttle’ flights to Isla Margarita, with a flight time of only 35 minutes.
When flying into Margarita you arrive via Del Caribe International, which is IsIa Margaritas’ only airport with both international and domestic terminals. It takes about 20 minutes to drive the 25km from the airport to the Caracola Beach & Spa Resort.
The taxis are extremely cheap and reliable and you can easily rent a taxi for a whole day, because the price of petrol is extremely low, about $0.05/litre!
The buses run all over the island in the daytime. Locals often go Por Puesto, a taxi for 5 people which has a fixed route. In other words, a kind of collective taxi. This is a very cheap, safe and popular alternative to a regular taxi. |
